The bid-to-cover ratio, a gauge of demand, at the liquidity-enhancing auction for debt with remaining maturities of one to five years rose to 4.9 from 4.5 at the previous sale in January.

Japan’s Nikkei share average rose 0.7 percent on Thursday, shedding losses from the previous session, as fears about a global trade war amid U.S. President Donald Trump’s push to introduce protectionist tariffs were tempered by signs the move could include exemptions for key trade partners.